Area Reductions (QLD)
Relinquishment requirements commencing 25 May 2020
- The holder must reduce the size of an EPM by 50% 5 years after the tenement's first renewal, and then relinquish 100% 5 years after that.
- For EPMs that were granted prior to 25 May 2020, transitional provisions specify that the first renewal on or after 25 May 2020 will be treated as if it were the tenement's first renewal, and the 50% relinquishment is due 5 years after that date.
- First renewal and relinquishment years for these tenements can be found in Information Sheet: NROLA transitional provisions for Exploration Permits
Relinquishment requirements until 25 May 2020The holder must reduce the size of of an EPM by 40% after 3 years and 50% at 5 years then after the renewal 40% after 3 years and 50% at 5 years. This is unless the Minister decides otherwise. Submissions must be made at least 20 business days (28 days) before the stipulated time or shorter period if the Minister allows s139 MRA. However the Department Guidelines state that the submission should be made 60 days before the anniversary.
Under s139(3) of the MRA the holder may apply to the Minister and "If the Minister so directs on reasonable grounds, the reduction of the area of a particular exploration permit may be more or less than" required.
Before making such an application it is worth reviewing the criteria as outlined in Operational Policy and Relinquishment Conditions